African Business News

Stay updated with the latest African business news, including market trends, economic updates, and insights into industries across the continent.

Naira slumps against dollar at FX markets

By Ifunanya / November 12, 2024

The naira continued to depreciate against the dollar at both official and parallel foreign exchange markets. FMDQ data showed that […]

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Inflation in October expected — CBN

By Ifunanya / November 12, 2024

The majority of Nigerians believed that the country’s inflation would rise further in October 2024. This is according to the […]

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Nigeria’s foreign reserves rise to $40.167bn

By Ifunanya / November 12, 2024

Nigeria’s foreign reserves increased to $40.167 billion as of November 11, 2024, for the first time since 2022. This is […]

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What Nigerians should expect from banks’ recapitalization—CBN Governor, Cardoso

By Ifunanya / November 12, 2024

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said the ongoing bank recapitalization policy in the country […]

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Dangote Refinery: IPMAN tells Nigerians when to expect new fuel pump price

By Ifunanya / November 12, 2024

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said Nigerians will get to know the new fuel pump price […]

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Nigerian economists back Tinubu’s tax reform bills

By Ifunanya / November 12, 2024

Popular Nigerian economists and financial analysts have backed President Bola Ahmed Tinubu’s tax reform bills amid controversy the bills have […]

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Nigerian Govt mulls single-digit taxes for citizens

By Ifunanya / November 12, 2024

The Federal Government is considering a single-digit tax regime to reduce the burden of multiple taxations on Nigerians. The Chairman […]

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Naira may depreciate to N1,993 against dollar – Report

By Ifunanya / November 12, 2024

Nigeria’s naira has been projected to depreciate further to N1,993 per dollar in the coming days. This is according to […]

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NNPC ends petroleum importation, partners Dangote refinery

By Ifunanya / November 12, 2024

After years of heavy importation of petroleum products, the Nigerian National Petroleum Company Limited, NNPC, announced on Monday that it […]

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Naira begins week with depreciation

By Ifunanya / November 11, 2024

The naira continued to depreciate against the dollar in the foreign exchange market on Monday. FMDQ data showed that the […]

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IPMAN dumps fuel import for Dangote Petrol

By Ifunanya / November 11, 2024

The Independent Petroleum Marketers Association of Nigeria, IPMAN, directed all its members to lift Premium Motor Spirit, PMS, exclusively from […]

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BREAKING: Dangote, IPMAN finally reach agreement to lift PMS, others directly

By Ifunanya / November 11, 2024

The Independent Petroleum Marketers Association of Nigeria, IPMAN, has finally secured an agreement with Dangote Refinery to lift products directly. […]

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Why VAT proposal is generating controversy – Oyedele, Tax Committee Chair

By Ifunanya / November 11, 2024

Taiwo Oyedele, Chairman Presidential Fiscal Policy and Tax Reforms Committee, has explained why the Value Added Tax, VAT, distribution proposal […]

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China’s import from Nigeria reaches N25.7 trillion by September

By Ifunanya / November 11, 2024

China’s imports from Nigeria increased by 36.1 percent year-on-year, reaching an all-time high of $15.1 billion (about N25.7 trillion) between […]

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Petrol price: Port Harcourt refinery dead on arrival — Economist Emmanuel

By Ifunanya / November 11, 2024

A popular Nigerian economist, Kelvin Emmanuel, has said that the Port Harcourt refinery is dead on arrival and cannot be […]

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Fuel price: Dangote refinery still buys crude in dollars – Economist Emmanuel

By Ifunanya / November 11, 2024

A renowned economist, Kelvin Emmanuel, has said the Nigerian government has not effectively implemented a Naira-for-crude deal with Dangote Refinery. […]

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Export processing terminal to link with domestic export warehouse – NPA

By Ifunanya / November 11, 2024

The Export Processing Terminal (EPTs) is to be linked with the Domestic Export Warehouse (DEW), the Nigerian Ports Authority (NPA), […]

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NDIC begins sale of Heritage Bank assets

By Ifunanya / November 11, 2024

The Nigeria Deposit Insurance Corporation, NDIC, has commenced a national auction of landed properties and physical assets belonging to the […]

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NLC accuses Dangote, oil marketers of inflating Petrol Price in Nigeria

By Ifunanya / November 11, 2024

The Nigeria Labour Congress has accused Dangote Group and oil marketers of ganging up to rip Nigerians off in the […]

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Petrol landing cost drops in Nigeria

By Ifunanya / November 11, 2024

Nigeria’s landing cost of Premium Motor Spirit (Petrol) dropped to N971 per litre in November 2024. This is according to […]

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